Published: Thursday, 3 July, 2008, 01:07 AM Doha Time
By Sarmad Qazi
SEVERAL expatriates, stung by soaring rents, have signed up to buy leasehold apartments in Doha. Many such properties are on offer these days as work on several leasehold apartments, that began about a year ago, is nearing completion.
A two-bedroom apartment measuring 141sq.m in the Najma area is available at QR1,168,000.
The one measuring 145sqm is priced at QR1,218,000, while a 153sqm apartment can be purchased for QR1,257,000.
The biggest two-bedroom apartment available at Najma is 156sqm for about QR1.3mn.
“These prices are for the 5th floor of the 7-storey building, since the lower floors have been taken by interested parties already,” an official of the developer said.
According to him, expatriates from India, Pakistan, Jordan, France and other communities are showing interest in buying leasehold apartments.
“Out of 44 available apartments in our other building in Mansoura, 25 have already been sold. Two months ago, we sold out another 25 apartments in Mansoura and 70 in the Al Sadd area. I would say it’s really positive,” he added.
On top of the purchase price, prospective owners will have to make a one-time payment of QR4,000 for registration (governmental fee) and other fees, and a monthly QR300 for maintenance, if they entrust it with developer.
They will also need to pay a 2% commission once the deal goes through. This amount has been fixed by the government.
Owners are provided with a 99-year leasehold contract that is renewable for the same period, while they will be granted a ‘usufruct’ visa and residence permit once approved and found eligible by the authorities.
Non-Qataris purchasing or leasing any such property was made possible after a Cabinet decision ratified by HH the Emir Sheikh Hamad bin Khalifa al-Thani in February 2006, designated 18 areas for such purpose in the Doha city.
These are Musheireb, Frij Abdul Aziz, Doha Jadeed, Ghanem Al Qadeem, Al Rifa Al Hitmi, Al Salata, Bin Mahmoud, Rawdat Al Khail, Al Mansoura/Bin Dirham, Najma, Umm Ghuwailina, Al Khulaifat (North & South), Al Sadd, New Mirqab/Al Nasser, area around the Doha International Airport, Dafna/Onaiza, Al Kharaij and Jebel Theilab, in addition to the Pearl and Lusail.
In April, Doha Munipality director Ibrahim al-Malki urged foreigners, whether resident in Qatar or not, to “take advantage of the unique opportunity for leasing or purchasing real estate in Qatar.”
He had also announced the opening of an office for the registration of real estate for non-Qataris.
The office provides information such as the minimum size of an apartment or a villa that can be purchased by non-Qataris and other guidelines pertaining to the sponsorship conditions.
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Published: Thursday, 3 July, 2008, 01:07 AM Doha Time
By Sarmad Qazi
SEVERAL expatriates, stung by soaring rents, have signed up to buy leasehold apartments in Doha. Many such properties are on offer these days as work on several leasehold apartments, that began about a year ago, is nearing completion.
A two-bedroom apartment measuring 141sq.m in the Najma area is available at QR1,168,000.
The one measuring 145sqm is priced at QR1,218,000, while a 153sqm apartment can be purchased for QR1,257,000.
The biggest two-bedroom apartment available at Najma is 156sqm for about QR1.3mn.
“These prices are for the 5th floor of the 7-storey building, since the lower floors have been taken by interested parties already,” an official of the developer said.
According to him, expatriates from India, Pakistan, Jordan, France and other communities are showing interest in buying leasehold apartments.
“Out of 44 available apartments in our other building in Mansoura, 25 have already been sold. Two months ago, we sold out another 25 apartments in Mansoura and 70 in the Al Sadd area. I would say it’s really positive,” he added.
On top of the purchase price, prospective owners will have to make a one-time payment of QR4,000 for registration (governmental fee) and other fees, and a monthly QR300 for maintenance, if they entrust it with developer.
They will also need to pay a 2% commission once the deal goes through. This amount has been fixed by the government.
Owners are provided with a 99-year leasehold contract that is renewable for the same period, while they will be granted a ‘usufruct’ visa and residence permit once approved and found eligible by the authorities.
Non-Qataris purchasing or leasing any such property was made possible after a Cabinet decision ratified by HH the Emir Sheikh Hamad bin Khalifa al-Thani in February 2006, designated 18 areas for such purpose in the Doha city.
These are Musheireb, Frij Abdul Aziz, Doha Jadeed, Ghanem Al Qadeem, Al Rifa Al Hitmi, Al Salata, Bin Mahmoud, Rawdat Al Khail, Al Mansoura/Bin Dirham, Najma, Umm Ghuwailina, Al Khulaifat (North & South), Al Sadd, New Mirqab/Al Nasser, area around the Doha International Airport, Dafna/Onaiza, Al Kharaij and Jebel Theilab, in addition to the Pearl and Lusail.
In April, Doha Munipality director Ibrahim al-Malki urged foreigners, whether resident in Qatar or not, to “take advantage of the unique opportunity for leasing or purchasing real estate in Qatar.”
He had also announced the opening of an office for the registration of real estate for non-Qataris.
The office provides information such as the minimum size of an apartment or a villa that can be purchased by non-Qataris and other guidelines pertaining to the sponsorship conditions.